Foresting HQ Establishes ICO Legal Safety for Investment Protection

PRESS RELEASE PR Newswire

Aug. 10, 2018, 01:23 AM

SEOUL, South Korea, Aug. 10, 2018 /PRNewswire/ -- Foresting HQ, a blockchain-based social media company, signed a corporate agreement with international law firm Duane Morris & Selvam LLP on July 18th for a full-scale project.

Duane Morris & Selvam is a joint venture between Duane Morris, a U.S. based international law firm, and Selvam LLC, a Singapore law firm. It has over 800 legal professionals in 13 regions worldwide, including the United States, China, Europe, Latin America, and Korea. They specialize in consulting and accounting for the performance of a company's global business and is known to provide legal advice that is suitable for the culture of the region as it has a wide network by region.

Foresting HQ has invested in Vertical Mass in the US and is stepping up to its global expansion. The legal advisory agreement with Duane Morris & Selvam will ensure a secure cornerstone for a stable business model. It will also help actively respond to various legal issues ahead of the PTON (Foresting token) ICO. Foresting HQ will conduct a review of various legal procedures and ICO related policies in the future together with the foreign investor advisors who have strong credibility starting from the completion of this legal advisory agreement.

Singapore is currently one of the few countries where ICOs are available. Duane Morris & Selvam, who are based in Singapore, has a deep understanding of the importance of ICO in the field of blockchain and has extensive experience with know-hows in the SAFT (agreement on standard terms and conditions used in cryptographic transaction). Foresting HQ has been able to establish stable legal safeguards against recent drastic movements, enabling stable and rapid business operation through this advisory agreement.

"Foresting HQ's ICO will proceed more legally fair and safe than any other cryptocurrencies," said Daniel Eom, CEO of Foresting HQ. "Making the legal process smooth through a well-known outside legal consultancy was a promise from the early days of the PTON development. It is good news for both the company and our supporters that we have built a strong cooperation with Duane Morris & Selvam. We will thoroughly prepare to minimize legal problems when the actual ICO is implemented," added Daniel Eom.